Achieve 60% Higher SAR Filing Rate With Automation + Gen AI

Business challenge.

Banks can spend over $500 million a year managing anti-money laundering (AML) and Know Your Customer (KYC) processes. Failure to comply with regulatory requirements results in government fines and sanctions, as well as reputational damage.

The painstaking complexity of AML and KYC processes, spanning billions of transactions across multiple systems, teams, and institutions, makes them slow to execute and prone to errors. Collecting and analyzing suspicious activities for reporting takes hours for each flagged activity.

The automation + generative AI solution.

Launch automated investigation: Compliance analysts initiate an automated investigation using Automation Co-Pilot, seamlessly embedded within their primary apps.
Data aggregation and analysis: Automation Co-Pilot, powered by generative AI, collects and scrutinizes data from diverse sources like transaction records, CRM, web data, and watchlists to detect behavioral patterns.
Review and create SAR: After a comprehensive review, analysts utilize Automation Co-Pilot to create Suspicious Activity Reports (SARs).
Take action: Automation Co-Pilot triggers automated actions such as holding transactions or freezing accounts to minimize potential risks.

Expedite investigations and ensure compliance with automation and generative AI.

100%

increase in investigation speed.

Unlock 70%

of compliance analyst’s time and resources.

60% higher

SAR filing rate and ensure compliance through due diligence.

Give compliance teams time back to focus on high-value activities to mitigate risks.

Increase investigation speed by 100% and complete 60% more SAR filings to FinCEN within the required timeframe.

Compliance analyst uses Automation Co-Pilot to launch investigation in banking case management.

CASE DATA

KYC data
Customer records
Transaction history
Currency activities
Regulatory reports
Government sanction lists
External surveillance

Intelligent automation compiles data across apps and sources.

Document Automation if needed

Automation Co-Pilot flags suspicious activities along with other data to the analyst for additional review. After analysts determines this is indeed a fraud, then the analyst can initiate the SAR creation workflow via Automation Co-Pilot.

Generative AI synthesizes, understands context.

SUSPICIOUS ACTIVITY REPORT (SAR)

Subject information
Suspicious activity info
Financial institution info
Filing institution’s contact
Fraud details
Software details
Regional specifications

Timely and complete SAR filing to FinCEN within the required timeframe.

Automation

Human interaction

Generative AI

Automation Co-Pilot

Get to know the Automation Success Platform.

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Use Case: Financial Services

Business challenge.

The automation + generative AI solution.

Expedite investigations and ensure compliance with automation and generative AI.

100%

Unlock 70%

60% higher

Give compliance teams time back to focus on high-value activities to mitigate risks.

Compliance analyst uses Automation Co-Pilot to launch investigation in banking case management​.

CASE DATA​

Intelligent automation compiles data across apps and sources​.

Document Automation if needed​

Automation Co-Pilot flags suspicious activities along with other data to the analyst for additional review. After analysts determines this is indeed a fraud, then the analyst can initiate the SAR creation workflow via Automation Co-Pilot.​​​

Generative AI synthesizes, understands context.​

SUSPICIOUS ACTIVITY REPORT ​(SAR)​​

Timely and complete SAR filing to FinCEN within the required timeframe​.​